Royal Caribbean Group has amended and extended the majority of its two unsecured revolving credit facilities.
A statement said that the amendment extends the maturities of $2.3 billion of a $3 billion aggregate revolving capacity by one year to April 2025, with the remainder maturing in April next year.
The cruise company’s chief financial officer Naftali Holtz said: “The successful extension of our credit facilities is a testament to our strong relationship with key lenders and their confidence in the Royal Caribbean Group.
“Our liquidity position remains strong and strengthening driven by our strong booked position, and delivering positive ebitda [earnings] cash flow generation.
“This extension, coupled with the repayment of $0.6 billion of debt in the fourth quarter of 2022, is a continuation of our proactive and methodic improvement of the balance sheet as we seek to return to an investment grade profile balance sheet.”
The group owns Royal Caribbean International, Celebrity Cruises and Silversea Cruises and is also a 50% owner of a joint venture that operates Tui Cruises and Hapag-Lloyd Cruises.